© Reuters Shyft Group’s (SHYF) Blue Arc to launch medium-duty electric vans, trucks
The Shyft Group Inc (NASDAQ:), a Michigan-based manufacturer specializing in medium-duty specialty vehicles, is preparing to introduce a range of electric trucks and vans under the brand name Blue Arc. Production for the new vehicles is set to start in the upcoming fall season.
“That’s our wheelhouse – it’s a segment we know and understand,” Chief Executive Daryl Adams said in an interview.
“We knew the traditional manufacturers would have their EVs in the (light duty) Class 2 space,” Adams said. “We also knew that in (heavy duty) Class 6, 7 and 8, Peterbilt, PACCAR (NASDAQ:), Navistar, they’re all going to have theirs eventually, so we stayed in our lane.”
Shyft said it plans to start pilot production this summer of its first Blue Arc vehicle, a step-in van, in Charlotte, Michigan, not far from its Novi headquarters.
“The potential volume in the ‘walk-in’ vehicle space isn’t that big,” Adams said. “There’s a lot of variety there, but not a lot of volume. So the key for us is partnering, which we’ve done with high-quality automotive suppliers like , Bosch and .”
According to Adams, Shyft Group has already received an advance order for 2,000 Blue Arc vehicles from one of its major dealer/distributors.
Shares of SHYF are down 1.23% in afternoon trading on Tuesday.
